U.S. manufacturing PMI contracts for five straight months amid weak demand

WASHINGTON, Sept. 3 (Xinhua) -- Economic activity in the U.S. manufacturing sector contracted in August for the fifth month in a row, the Institute for Supply Management (ISM) said Tuesday.

The U.S. Manufacturing Purchasing Managers' Index (PMI) stood at 47.2 percent in August, up 0.4 percentage points from the 46.8 percent recorded in July. Any reading below 50 percent indicates the manufacturing sector is gene